Prepare to Retire Soon

• If you haven’t already done so, get started creating a plan for approaching, and living in, retirement.
• Review basic timelines for key steps you’ll need to take at specific ages.
• Make a plan for the non-financial side of retirement and finding meaning in the next phase of your life.

• Log into the NetBenefits® website or call Fidelity at (800) 835-5095 to review your investments to make sure they align with your plans.
• Learn the basics about when to claim Social Security and how to get the most from it.
• You may also want to contact your local Social Security office for a benefits estimate. Locate an office near you, or call (800) 772-1213.

• Develop your plan for generating income in retirement, and contact your financial advisor to discuss your options.
• Create a realistic budget for your retirement expenses based on your anticipated income. Don’t forget to plan for the unexpected.

• Prepare for the cost of medical care in retirement. Review helpful tips.
• Explore the Bridge to Medicare plan if you’re looking to extend your health care coverage until you turn 65 or become Medicare-eligible, whichever comes first.
• Learn the ins and outs of Medicare through this Medicare Overview video, the U.S. Government’s Medicare & You handbook, and UnitedHealthcare’s Medicare Made Clear guide.
• For more personalized guidance, call Health Advocate at (866) 695-8622 to talk to a Medicare Specialist about your Medicare options and enrollment timing.

• Consider enrolling in Long-Term Care (LTC) Insurance to cover medical expenses not covered by health insurance, disability insurance, and Medicare coverage.
• Apply for Social Security retirement benefits, if appropriate. Visit an office near you or call (800) 772-1213. You can also apply for retirement benefits online.

• If you haven’t already done so, talk to your manager about your retirement plans. Be sure to schedule time to review your transition planning, too.
• Contact your HR representative once you and your manager have agreed on your last day at Synopsys.

• Confirm your departure date with your manager.
• Start packing! If you need boxes, submit a request with Facilities.

Lastly, stay active and engaged! Exercise, social connection, and a sense of purpose will help you get the most from this next phase of your life.